Innovative Uses of Social Media to Combat Insurance Fraud, Improve the Insurance Experience

 Friday, November 18, 2016

QBE North America, an operating division of global insurer QBE Insurance Group Limited, has released a new white paper titled "Innovations in Using Social Media to Fight Insurance Fraud, Improve Service." Stories abound of how social media has opened an entirely new channel of communication for scammers willing to commit fraud, but insurance companies are increasingly turning the tables by using social media to detect fraudulent claims. The paper notes several examples of claimants publicly sharing facts of their lives on social media that contradict the basis of their claim, such as semi-pro athlete playing well in local sports leagues while collecting workers’ compensation benefits. "Finding new methods to fight fraud helps keep insurance premiums down for everyone," said Dan Franzetti, Chief Claims Officer, QBE North America. "Some studies suggest that as much as 10 percent of all property and casualty claims could have fraudulent elements, and leveraging the power of social media helps us more effectively and precisely identify instances of fraud to drive the cost out of the system."